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junaid-shahid
New Member

In CA state return, Investment Income Expenses are not showing up as a deduction in the generated forms

In my CA state return, I have put HSA maintenance fees as Investment Income Expenses using the instructions from https://ttlc.intuit.com/questions/3772418. From what I understand, it should be showing up as a deduction in the CA return, but when I look at the forms generated by TurboTax at the end, that doesn't seem to be happening. What could be the reason for the deduction to not be present there?

1 Best answer

Accepted Solutions
TerryA
Level 7

In CA state return, Investment Income Expenses are not showing up as a deduction in the generated forms

Miscellaneous itemized deductions get a 2% of AGI haircut on Schedule A line 26. So unless the sum of them exceed that 2% amount then they don't count in the total itemized deductions.

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3 Replies
TerryA
Level 7

In CA state return, Investment Income Expenses are not showing up as a deduction in the generated forms

Miscellaneous itemized deductions get a 2% of AGI haircut on Schedule A line 26. So unless the sum of them exceed that 2% amount then they don't count in the total itemized deductions.

View solution in original post

junaid-shahid
New Member

In CA state return, Investment Income Expenses are not showing up as a deduction in the generated forms

I understand the 2% AGI limit applies for the federal return, but does it apply to the California state return as well?
TerryA
Level 7

In CA state return, Investment Income Expenses are not showing up as a deduction in the generated forms

Yes, same thing.
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